TL;DR: Peter Mutharika, 85, wins Malawi’s presidency with 56.8% of votes, defeating incumbent Lazarus Chakwera amid economic crisis, shortages, and inflation. Voter turnout was 76%. Mutharika promises economic reforms and IMF re-engagement.
Election Results
- Peter Mutharika won 56.8% of the vote (~3.2 million), beating President Lazarus Chakwera (33%, ~1.9 million).
- Joyce Banda placed third with 8%.
- Voter turnout was 76% of 7.2 million registered voters.
- No runoff was required as Mutharika passed the 50% threshold.
Context
- Malawi is facing high inflation (33%), forex shortages, and fuel scarcity.
- Chakwera conceded, saying: “It is only right that I concede defeat out of respect for your will as citizens and out of respect for the constitution.”
- This marks Malawi’s third peaceful transfer of power since 2019.
Mutharika’s Promises
- Re-engage with the IMF after Chakwera’s 2024 exit from a $350M program.
- Float the kwacha, cut public spending by 20%, and expand infrastructure.
- Subsidize fertilizer and fast-track 500 corruption cases.
Challenges Ahead
- External debt is 70% of GDP.
- GDP growth (1.5%) is below population growth (2.8%).
- Currency black market rate is nearly 3x the official.
- Over 5 million people face hunger due to drought and past cyclones.
Reactions
- AU and U.S. welcomed the results.
- Mutharika’s running mate Jane Ansah (ex-election chief) became vice president, drawing scrutiny.
- Inauguration is set for October 20.